Since my usual trading style (breakout from sound long term pattern) does not work quite well in "this" type of the market and I could not sleep yesterday, I played with different scans till 4AM and I think I found something that might be used for VERY SHORT TERM trades, I'd say day trades mostly.
This new scan produced 3 stocks yesterday, one was flat today and 2 went up
(UCNL) - went up 14% ( Yes, fourteen percent!), started to climb from slightly negative open, never sold off during the day, ended, as I said - up 14%
(LINC) - opened flat, and produced +7% withing 1 hour.
That is, I'd say - darn good!
Both stocks had high volume today, so it was possible to trade large positions.
Did I get lucky? Possible, this is why I would be extra careful with 2 trade candidates for tomorrow found with the same scan, plus - I don't think market is going to be quite as good as today.
Big report in the morning - keep in mind that first market reaction is not always right - you know the drill.
My trade candidates for tomorrow are:
(TWTI) and (LGBT), both long, tomorrow I'll know if new scan works...
* Above stocks picks ARE NOT SUPPOSED TO BE JUST BOUGHT OR SOLD!!! *
* I POST DETAILED STRATEGY FOR EACH OF THE ABOVE ON THE MEMBERS PRIVATE SITE *
Thursday, March 08, 2007
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